Asian stock markets are trading mostly lower on Thursday, following the broadly negative cues from global markets overnight, as bond yields continued to spike amid uncertainty about the US Fed's interest-rate moves ahead of key inflation data later in the week. Asian Markets closed mostly lower on Wednesday.

Indian shares are seen opening lower on Thursday amid a sell-off in the U.S. bond market and investor anxiety ahead of the general election results, due next week.

Extending the losses in the previous two sessions, the Japanese market is sharply lower on Thursday, following the broadly negative cues from global markets overnight. The Nikkei 225 is plunging well below the 37,000 mark, with weakness across most sectors led by index heavyweights and technology stocks.

The Thai stock market has moved lower in consecutive trading days, stumbling more than 15 points or 1.1 percent along the way. The Stock Exchange of Thailand now sits just beneath the 1,350-point plateau and it's expected to extend its losses on Thursday.

The Australian market is notably lower on Thursday, extending the losses in the previous seven sessions, following the broadly negative cues from global markets overnight. The benchmark S&P/ASX 200 is falling to near the 7,600 level, with weakness across most sectors led by mining, energy and technology stocks.

The AUD/USD pair rose to 0.6650 on Wednesday following the release of Australian economic data. Australia’s consumer price index (CPI) accelerated to 3.6% year-on-year in April, up from 3.5% in March.

Expert market comment made by senior analyst Alex Kuptsikevich of the FxPro Analyst Team: Accelerating German inflation supports the euro on the downturn

Expert market comment made by senior analyst Alex Kuptsikevich of the FxPro Analyst Team: Australia's inflation is ticking up despite weak retail sales

US stock indices under pressure as yields climb. German CPI could dictate next week’s ECB rhetoric. Yen underperformance lingers; all eyes on Friday’s Tokyo CPI

The Dollar Index, which measures the value of the Greenback against 6 major currencies, steadied to finish with modest gains at 104.63 (104.55 yesterday).